ENTREPRENEURIAL OPERATIONS
SUPPLY CHAIN MANAGEMENT
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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true
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false
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Either A or B
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None of the above
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Detailed explanation-1: -The fourth principle of supply chain management is to differentiate products closer to the customer. Technology and data are already very well integrated into supply chain management. Corporate executives are already well aware of supply chain management. CEO’s view SCM as being primarily focused on cost reduction.
Detailed explanation-2: -Supply chains are composed of four major elements: procurement, operations, distribution, and integration. Supply chain management should not be seen as appropriate only for large businesses.
Detailed explanation-3: -Supply chain management is the process of planning and coordinating all of the people, resources, and technology that contribute to a company’s value creation. Negotiating prices, scheduling manufacturing, and managing logistics all impact a company’s value equation and are vital components of a supply chain.